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USD On The Defensive

FOREX

The greenback continues to trade on the defensive as we move into European hours, moving to fresh session lows against all of its major counterparts in recent dealing. The JPY is the second worst performer in G10 given the earlier flagged record highs in e-minis and uptick in domestic equity markets. At the other end of the spectrum, NZD is the outperformer, after the early Asia option-related vol. Broader risk looked through the weakness in Chinese equities and contraction in the Chinese official non-manufacturing PMI print overnight.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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